The New Disability Frontier
For more than a decade, Petersen International has been nurturing and coddling the fledgling Guaranteed Standard Issue (GSI) disability insurance market. But the sector has now come into its own. It is the most efficient and economical method for business owners to insure themselves and their employees against disablement and the subsequent eventuality of loss of income. It is also an incredible door-opening sales tool and commission booster for agents and advisors. GSI coverage is multiple-life, high-limit disability insurance that can be placed on top of traditional group disability plans and/or individual income protection benefits without requirements of medical exams or blood/urine tests.
The market’s evolution was inevitable considering where the digital age and rapid advancements in tech have brought about new methods of insurance underwriting and sales. Clients demand the same solid benefit structure with less intrusion and faster, cheaper results. GSI is the answer to the widespread demographic of impatient corporate America.
GSI is the fastest growing sector in Petersen’s robust disability insurance portfolio. Premium volume production of this product has continued to skyrocket due its obvious attractive nature; high limits of specialty-specific, “own occupation” disability insurance without an advisor having to put his or her clients through medical underwriting. This insurance platform speaks for itself.
Group size and participation requirements are relatively small, and Petersen’s GSI product line is so flexible that benefits can be shaped to compliment existing policy of underlying LTD and/or personal DI. Underwriters are willing to offer coverage on a mandatory basis, voluntary basis as well as a very contemporary hybrid chassis mixing the benefits of both mandatory and voluntary plans into one seamless benefits program.
As you may assume or be already aware, high-limit GSI is of course a perfect pairing for law firms, hospitals, medical and dental practices, but we are now seeing more uptake among accounting firms, banks, architecture firms, private equity institutions and other businesses with populations of high-income earners in need of more disability insurance.
Petersen International can assist you with finding your way to and through this exciting, lucrative and rapidly expanding GSI market. The secret can be found within your own client files. Your existing clientele hold the key to turning a single excess individual disability sale into a commission windfall by placing an excess multi-life disability policy. Your loyal clients have colleagues, partners, bosses and HR managers who will be ecstatic to learn more about GSI benefits platforms with ease of policy issuance as well as huge group discounts. GSI allows you to provide high-limit income replacement to underinsured persons on a guaranteed-issue basis (no matter their health histories) at premiums substantially less than those of traditional personal disability policies.
If you aren’t in this market already or if you haven’t found much success, you need to call our experienced, dedicated GSI team at (800)345-8816. We know this market. We created this market. Call us today.